Articles of the week ending November 1st
This Once Hot Real-Estate Type Is Now Being Offered as Office Space
By Peter Grant, The Wall Street Journal
The once-booming demand for life-sciences properties has declined sharply post-pandemic, leading developers to repurpose lab spaces for office use amid a significant oversupply and faltering market conditions.
New York plans housing in Manhattan’s Meatpacking District, marking end of era
By Andria Cheng, CoStar News
New York plans to redevelop Manhattan’s Meatpacking District by replacing the historic Gansevoort Meat Market with 600 mixed-income housing units and new public spaces, marking the end of an era for the area’s meatpacking industry.
Musk’s Tesla snags former Queens shopping center
By TRD Staff, The Real Deal
Tesla has leased a 150,000-square-foot space in College Point for potential manufacturing, despite prior agreements limiting its expansion in New York.
Former St. Francis campus to be converted to residential housing
By TRD Staff, The Real Deal
Rockrose Development plans to transform the former St. Francis College campus in Brooklyn Heights into 747 residential units, amidst some controversy over labor practices related to the project’s demolition contractor.
Bosses Are Calling Workers Back to the Office. That’s Good News for Landlords.
By Peter Grant, The Wall Street Journal
The office market is showing signs of stabilization as more companies require employees to return full-time, leading to increased demand for office space and renewed interest from landlords and investors, despite ongoing challenges such as high vacancy rates and outdated properties.
Amazon In Talks For 350K SF Office Next To NYC HQ
By Ciara Long, Bisnow
Amazon is in negotiations to lease over 350,000 square feet of office space at 10 Bryant Park in New York City to accommodate its mandate for employees to return to the office five days a week.